Question:
Match List-I with List-II.
List-I List-II A. Contract Curve I. Shows all efficient allocation of goods B. Utility Possibility Frontier II. Shows all efficient allocations of resources measured in term of utility C. Social Welfare Function III. Measure the well being of society as whole in term of utilities of individual D. Production Possibility Frontier IV. Shows the combination of two goods that can be produced with given input
Match List-I with List-II.
| List-I | List-II |
|---|---|
| A. Contract Curve | I. Shows all efficient allocation of goods |
| B. Utility Possibility Frontier | II. Shows all efficient allocations of resources measured in term of utility |
| C. Social Welfare Function | III. Measure the well being of society as whole in term of utilities of individual |
| D. Production Possibility Frontier | IV. Shows the combination of two goods that can be produced with given input |
Show Hint
Contract curve is linked with efficient allocation, utility possibility frontier with utility combinations, and production possibility frontier with production combinations.
Updated On: May 22, 2026
- A-I, B-II, C-III, D-IV
- A-I, B-III, C-II, D-IV
- A-I, B-II, C-IV, D-III
- A-I, B-IV, C-III, D-II
Show Solution
Verified By Collegedunia
The Correct Option is A
Solution and Explanation
Concept: These terms are important in welfare economics and production theory. Each concept describes a different type of efficiency or possibility.
Step 1: Match Contract Curve.
The contract curve shows all Pareto-efficient allocations of goods between consumers. \[ A \rightarrow I \]
Step 2: Match Utility Possibility Frontier.
The utility possibility frontier shows efficient allocations measured in terms of utility levels of individuals. \[ B \rightarrow II \]
Step 3: Match Social Welfare Function.
The social welfare function measures the welfare of society as a whole using the utilities of individuals. \[ C \rightarrow III \]
Step 4: Match Production Possibility Frontier.
The production possibility frontier shows combinations of two goods that can be produced using available resources. \[ D \rightarrow IV \] Therefore, the correct matching is: \[ A-I,\ B-II,\ C-III,\ D-IV \]
Step 1: Match Contract Curve.
The contract curve shows all Pareto-efficient allocations of goods between consumers. \[ A \rightarrow I \]
Step 2: Match Utility Possibility Frontier.
The utility possibility frontier shows efficient allocations measured in terms of utility levels of individuals. \[ B \rightarrow II \]
Step 3: Match Social Welfare Function.
The social welfare function measures the welfare of society as a whole using the utilities of individuals. \[ C \rightarrow III \]
Step 4: Match Production Possibility Frontier.
The production possibility frontier shows combinations of two goods that can be produced using available resources. \[ D \rightarrow IV \] Therefore, the correct matching is: \[ A-I,\ B-II,\ C-III,\ D-IV \]
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